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1802, 2021

Final Regs Defining ‘Real Property’ for Section 1031: IRS Gets It Right With ‘State Law Plus’

February 18th, 2021|Categories: Tax Articles|

Jon Christianson and Matthew Carlson of Boutin Jones Inc., together with Louis Weller of Weller Partners, LLP, and Richard Lipton of Baker & McKenzie, LLP, were co-authors of an article that was recently published in the February 2021 issue of the Journal of Taxation titled, “Final Regs Defining ‘Real Property’ Continue Reading

March 2021

Monthly Tax Law Tip

If you are doing a 1031 exchange, your exchange period ends on the earlier of: (i) 180 days after the close of the sale of the relinquished property, or (ii) the next due date for your tax return. That means that, if your sale closed after October 17, you will need to file for an extension of the April 15 due date in order to receive the full 180-day exchange period.

1901, 2021

IRC Sections 121 and 1031—Gain Exclusion and Deferral Riding Tandem

January 19th, 2021|Categories: Tax Articles|

Intro. The residential real property market has been active recently for rental houses and principal residences  It is perhaps for this reason that I have received several inquiries about the use of IRC Section 121 to exclude gain, the use of IRC Section 1031 to defer gain, and the potential Continue Reading

2312, 2020

Proposition 19 Client Alert

December 23rd, 2020|Categories: Tax Articles|

California voters recently approved Proposition 19, which may significantly increase property taxes when real property is transferred between a parent and child. This Client Alert explains the changes to current law and what to consider in deciding whether to take action before the new law takes effect on February 16, Continue Reading

1812, 2020

California Small Business Hiring Tax Credit Application Period Underway

December 18th, 2020|Categories: Tax Articles|

On September 9, 2020, Senate Bill 1447 was signed into law and created a new tax credit aimed at providing relief to struggling small businesses. SB 1447 provides certain small businesses with a $1,000 tax credit for each net increase to full-time employees. Applications are allocated on a first-come, first-served Continue Reading